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Countdown to the Closing Bell

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U.s. 7, Us 7, America 6, S&p 6, Thomas Perez 6, Paul 6, Carl Icahn 5, Peter Barnes 4, Keith 4, China 4, Kevin 3, Charlie Gasparino 3, Herbalife 3, Janet Yellen 3, Icahn 3, New York 3, Alan Harry 2, Charlie 2, Ben Bernanke 2, Charlie Evans 2,
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  FOX Business    Countdown to the Closing Bell    News/Business. Stock  
   market updates. New.  

    December 6, 2013
    3:00 - 4:01pm EST  

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actually report that good news is interpreted by the markets as good news. but today that's exactly the case. investors outright embracing the better than expected numbers for the november jobs report. the economy generated 203,000 new jobs in november, and the unemployment rate fell to its lowest level if five years. the expectation was to see a build of about 180,000 jobs, so this, obviously, was much better than expected. look aa the market rally we have on our hands. investors apparently shrugging off concerns that the strong jobs number might hasten the fed's tapering of its bond-buying purchases. in the past that's concerned the markets, but look at the dow jones industrials. yes, it is up about 185 points, but earlier it gained some 200 points, the session highs. the first 200-point gain in about seven weeks. a similar story with the s&p 500. the s&p enjoying its biggest gain in four weeks.
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right now it's seeing a jump, pretty significant here of 19 points. just a minute ago it was up to, so it's -- up 20, so it's hovering at really strong levels here. general motors cruising to new highs it hasn't seen in more than five years. why? well, the new word is out that the automaker could ship an increased number of vehicles made in south korea, where are they shipping? to australia. so the global business looks healthy. shares of general motors surpassing the $40 mark, now at $40.23. a decent gain of nearly 3%. we also wanted to talk about some other companies that are reaching brand new highs today. we have the railroads looking very nice ear, uniupon the onpacific -- union pacific, all reaching new highs, and in tech, western digital and seagate, those two games moving higher by more than 2%. in just a couple of minutes, you will hear from u.s. labor secretary thomas perez, where we still really need to improve. anticipator, we have today's
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job -- -- that's right, we have our nicole petallides at the new york stock exchange, washington correspondent peter barnes and all of our floor show traders including keith blitz, bob at the cme and from the nymex, alan harry. nicole, you first. you saw traders behave right after that number. >> reporter: right. it's pretty amazing, never looked back only to set new highs here in this afternoon trading up 183 points. watching the vixx, the fear index, guess what? after days of having up arrows, it moved to a four-day low, it's down 9%, and they're buying from every sector from energy to technology and industrials. liz: foresting to see that concern interesting to see that on the vixx there. it had touched 15 two days ago. now to peter barnes. peter? >> reporter: well, hey, liz. these numbers today are adding fuel to the taper talk with the fed potentially moving as soon as its next policy meeting on december 17th and 18th, just two
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weeks from now. i'll tell you what a couple of fed officials are saying about the numbers and tapering in just a couple of moments. liz: okay. let's get to our traders at the new york stock exchange, cme and nymex. for once the markets are reading a strong number as, oh, there goes all that stimulus to, wait a minute, this has got to be a good sign. second month in a row, right, keith? where we've had a surprise to the upside from the jobs numbers. why the difference today from just yesterday? >> it's actually interesting. i think yesterday and what we saw the week before has led people to think that december taper's going to come in. i personally don't think it's going to be there. i think tear going to leave it alone, but that notwithstanding, we saw the stronger economic data come in and really punish the market as a result. remember that the fed has always said it's always about the jobs numbers, and their threshold for the unemployment rate is at 6.5%. we're still not there, so i
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think the jobs numbers today and the unemployment reading was a bit of a goldilocks reading. on tuesday, wednesday and thursday of this week, those people are getting punished because they put tight stops on them. a bit of a short squeeze going on leading us to those higher levels today. liz: when he says goldly locks, folks, he means not too hot, not too cold. you made the point the last time everybody thought there might be a taper, there was not. do you think what keith is saying is we won't see december, maybe the spring? >> yes. you heard it here second, because keith said it first. [laughter] you heard it here second, no taper in december. taper is coming in march at the earliest -- liz: maybe the question is does it really even matter? we see now -- >> the it doesn't. liz: -- the market can handle good numbers. >> it doesn't matter name because the jobs numbers are improving enough to give janet yellen a little bit of cover because she's more doveish.
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the scenario i'm seeing now is actually pretty bullish, especially once we get past the debt ceiling talks. even with these stronger jobs numbers continuing, we've got the consumer confidence number, blow us out of the water again, much stronger than expected. janet yellen's extra doveishness allows the punch bowl to stay open while we get better numbers all the way to march and beyond. the taper's going to happen because qe cannot have worked unless it ended. it's like saying they're not going to stop qe until i die, i can never be right because once i die, how do i collect? they can do it for as long as they need to do it, but they have to end it for it to have worked. liz: and again, what does that mean? [laughter] the markets interpret it as not the worst thing in the world. let me go to alan harry who is not so sartorially shall we say right and loud as welcome bob, n tell you the markets look pretty
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bright except when it comes to natural gas and energy. >> yes. we have a couple of numbers come out this week that changed the perspective of the market short term. so in crude oil we had draws and in natural gas big draws pushing the markets both up. i think short term in crude we get to 98 prcht 5, 99.5, and then i think we sell off hard. we have new players coming into the market that have been suspended for quite some time like libya and iran. they're going to push the market lower. natural gas, i think we're going to have a cold spell, it's going to get natural gas back up again. if we do not break the 402 to 407 level on the downside, we're going to see much higher levels, i think we'll see 3-- 44.5. liz: gentlemen, have a great weekend. we love the outfit, bob. [laughter] back to nicole at the new york stock exchange, peter barnes in washington d.c. peter, right off the bat what does today's number really mean
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for the federal reserve? as you see, we have traders saying doesn't really matter, but in the end, we do know it does. >> reporter: well, we got some fed members talking about it, and they're the ones who vote and get into the room, right, liz? they're the ones who make the decision on whether or not start tapering the $85 billion a month in qe bond purchases. let's start with charlie evans, chairman of the federal reserve bank of chicago. he said the jobs report is good evidence that the labor market is moving in the right direction. he is keeping an open mind on when tapering should begin including as soon as potentially the meeting in two weeks here, but he says he needs of to have confidence that the labor market improvement is sustainable, and he's still concerned about the low labor market -- the labor force participation rate. that's a number that we look at all the time as well because the labor force participation rate is at historically low levels, the lowest levels in more than 30 years. it bounced back up just a hair
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to 63% in november from the low, low level of 62.8 in october, and when the labor force participation rate goes down like that, people getting out of the work force, it can help push the unemployment rate lower. so ben bernanke and charlie evans and others think that the edline number of 7% -- headline number of 7% unemployment in november doesn't reflect the true health of the labor market. so this has triggered all of this debate and including one economist who told us earlier that she doesn't think that they'll taper in december. take a listen. >> i still think that many on the fomc want more evidence that the economy is, indeed, strong enough that they feel comfortable to begin to pull back a bit. because the last thing they want to do is to pull back and then have to reverse course.
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>> reporter: also heard from charlie -- charles plosser at the philadelphia fed today, and he has not supported want tate i easing. -- quantitative easing. he wanted to start tapering yesterday, so, of course, he thinks today's jobs report calls for tapering as soon as possible which would be december. liz: nicole, you heard bbb from the cme in essence say doesn't matter. that is a little cavalier because we know that it strikes the markets on a bad day, suddenly we might see a bigger percentage loss, but today is not that day. >> today is not that day. today is the day that the vixx is back, everybody's eyes, we're seeing some of the consumer names moving higher such as procter & gamble and uniiever doing well, certainly a great day on wall street. and for right now whether or not the fed's going to taper really is anybody's guess because in the last round you remember everybody on wall street thought they were going to taper, and guess what they didn't do?
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they did not taper, on the contrary. and now this is a very crucial time. so december 17th, december 18th we'll be waiting on the fed. in the meantime, we're watching that ten-year bond yield, and that's at 2.88 percent, another key factor. liz: it did touch 2.9%, we saw that earlier. thanks to both, nicole, peter barnes, all of our traders and, again, stand by for the labor secretary, thomas perez, he'll be with us in just a moment. the closing bell ringing in 50 minutes. stocks shooting up on this friday, what's -- was today's jobs report a real turning point for investors who are worried about the fed, and will we see the money come up off that sort of sideline aisle there? jpmorgan's chief u.s. economist weighing in with us in just a moment. and shaking it up, i almost had an herb life shake -- herbalife shake this morning, but the brawl still shaking up between billionaire carl icahn
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who loves it and activist investor bill actman who hates it. pulling back right now, what's icahn going to do next? charlie gasparino has some inside scoop. he's coming down right now. ♪ ♪ every day we're working to be an even better company - and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other ple in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger.
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liz: did you see keith bliss on the e floor this no nerves rattled todaa at all. the jobs report failed to rattle the nerves of investors and market participants who have been very worried about the tapering of the bond buying purchases because they felt it was very much a stimulus for the markets. not wrong but, again, the markets reacting very well. will these upbeat numbers that came in the wake of 203,000 jobs built here for the month of november, will it push the fed to start scaling back at the next meeting? and in what way? let's bring in jpmorgan's chief economist. i don't know if you heard the traders saying it doesn't matter anymore. obviously, it does. what's your best guess? >> our best guess is still january. i think today was a good number
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and may increase the odds a little bit for a taper in december, but we still have it below 50%. inflation is still maybe perhaps a touch too low for the fed to start tapering this month, but it was a good number, and i i think it certainly puts it in play for the next few meetings. liz: i have traders tweeting me saying, oh, you guys are negative, you'll find something bad in the number. there wasn't much bad in the number, was there? you're an economist. >> no, look, in any payroll report you can find some good and some bad, but i think it was generally more good than bad in this number. yeah, i don't think there's too much to miss in this number. liz: what concerns do you have about why we're not seeing higher numbers five years after the bubble burst? >> well, look, we're averaging pretty close to 200,000 jobs a month, we've created over four million jobs this the past two years -- in the past two years, so, you know, i think we are seeing hiring. i think we just had a really big recession, so it takes a while to get out of that hole, but we
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are moving in the right direction. liz: you worked at fed. you were a former federal reserve economist, and we had bob saying that before they can actually start the taper, they must prove -- at least when they do start it -- that it worked somehow. is it working to your expectations? >> look, it's really hard to say exactly how influential it has been. the fed's always made this argument that it should be working through lower interest rates, right? when they started talking about tapering in may and june, we saw interest rates go up, and that actually tells me it has been stimulating the interest-sensitive sectors of the economy, and the unemployment rate is now down a percentage rate since they started qe3. we know some of that's due to participation rates but, again, we've created over two million jobs in that period. so i would judge it, you know, somewhat of a success. obviously, a lot of that growth has just been due to private sector initiatives, but i think, you know, i think the market,
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how the market's responded to qe3 and the talk of taper tells you that it has been, you know, supportive of somewhat easier financial conditions. liz: sure. we know that the market is separate from the economy, two totally different animals here. that's been proven, obviously. [laughter] what is the number one sort of economic hangover that you see that's pulling the markets back from really roaring toward the likes of what we saw, say, back in 995? >> well, i mean, equity market performance has been really pretty phenomenal. if anything, it's been running well ahead of where the economic fundamentals have been. liz: right. >> back in the mid to late '90s you had an chi that even toe it was -- economy that even though it was operating close to full capacity, it was strong productive growth -- liz: how do we, i guess the question is how do we get back to full strength, full power? >> well, i think that's just a matter of time. look, we have been moving this that direction slowly over the past few years. we started off, obviously, from 10% unemployment.
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so rome wasn't built in a day. i think within two years we probably will be back to full capacity, and then the question is once you're at full capacity, how fast can the economy grow? and lately, you know, productivity, as i said, has been growing slow. it could turn around by that point. certainly would be, you know, what we need to see to feel like these gains we're seeing in the equity markets are sustainable and continue moving forward. liz: we'd love to have you back, michael. will you come back again? >> sure. liz: thank you so much. he's been on the inside of the federal reserve, striking a sanguine tone here. it's a good number, folks. we're optimists, too, we want the this country to do well, and you just saw ten-year charts of the dow jones industrials. we're at near all-time highs for the dow and s&p. closing bell ringing in 41 minutes. will billionaire carl icahn double down on herbalife after his winning bet on the nutritional supplements maker is legendary now? our charlie gasparino has the
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very latest on what icahn does next. and labor secretary thomas perez joining us to sound off about today's jobs report. but how do we get more workers into well-paid jobs? right? you need skills. we'll be talking about all that and much more with perez when we come back with. ♪ ♪ [ male announcer ] here's a question for you: where does the united states get most of s energy? is it africa? the middle east canada? or the u.s.? the answer is... the u.s. ♪
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liz: we have some breaking news involving the merger between us airways and american airlines. a judge is smacking down a consumer group that wanted to block this er very. as you may remember, we had attorneys general banding together and saying they didn't want the merger to happen, then they backed down. once again, the breaking news is that a judge is now saying that a consumer group, according to reuters, is not going to be able to stand in the way of the amr/us airways deal. we want to mention monday, noon eastern, cheryl casone has a live interview with doug parker, the incoming american airlines group ceo. you don't want to miss this. it's going to be huge for the airline industry. the airline industry finally getting its wings back. she'll be asking him all the tough questions with, all the
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important questions. cheryl and doug parker coming up on monday at noon. billionaire carl icahn staying in herb a life even though he now has the right to sell his stake. you heard it right here back first if october when icahn spoke to charlie gasparino. listen to what he said back then. >> well, let's talk about exiting. i mean, i think people have the wrong impression. i've held companies 15, 20 years. i mean, my rail care -- car, i held from the mid '80s. i think herbalife is a very undervalued company. of but i don't look at it week to week, month to month, sometimes even year to year. we hold things for many years. liz: charlie joins us now. >> i do carl icahn better than carl eye land. listen, this is what i believe carl believes. you're an investor in the stock, take it for what it's worth, carl believes this is a $100
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stock, that he's in it for the long term. he's in it for the long term because he believes shares are going to 100, and i think that's when he starts selling out. two things have to happen, i believe -- liz: 73 now. >> okay. it's down a little today. it was up two days ago because a belgian court ruled it is not a pyramid scheme. i was kind of laughing about what do we care about the belgian court -- [laughter] okay, i know, it sounds like, @ou know, the italian courts -- liz: hey, they'll take it. >> no, i don't think that was -- this had some broader significance. i spoke with people, in the past this belgian court said it might be a pyramid scheme, so they reversed and did a 180. so it had some cig think cannes. the question here is why is he a long-term investor, and there's two things on -- there's a couple things on the horizon for hlf, herbalife shareholders, trade under the symbol hlf. number one, you're going to get audited financial statements.
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all the audited financial results for the that's three years were null and void. that's going to come out, we believe it's before the end of the year. and what's going to come out with that is the kind of speculation, a huge potential buyback of hlf stock. they've been buying back shares slowly, but, you know, if you talk to people, a lot of analysts are talking they can borrow cheaply to finance a very, very large buyback, and that's something that carl's counting on. or that the big investor, bill sterritz -- liz: show the one-year. that's the more interesting behavior. it's been a moon shot, but carl icahn is now able to sell if he wants to. it would hurt the stock badly if he did. will he? >> you know, based on my conversations with him, you know, this is all i can tell you, he thinks this is a $100 stock. he thinks, you know, you heard
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him there, said it was undervalued. that's what he told fox business back this october. when he first told us he was a long-term investor, i was a little bit skeptical, but he obviously is. i think he's banking on, and this is a smart guy, he's worth $20 billion and by the way, no one gave him a billion, he made every one of those billions on his own, he thinks the this thing is going up was he thinks there's a shoe to drop here. there's a play here. the play is a massive buyback, and i think that's what he's counted on. we don't talk much about alaskaman right now -- actman right now. liz: i was just going to say, he's in the hole how much? >> five million. remember, he thinks it's a pyramid scheme, it should go to zero, and he recently said he's in it until his last dying breath. liz: kind of blew the jcpenney deal. >> yeah. he's made some money -- you know, bill's a smart guy. don't get me wrong. he's done well. but, you know, this is different. even if it is -- there's merit to some of his, to what he says about the distributers being the
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really end users. and if you don't get real end users when you run out of distributers, the company falls apart, right? liz: but again, and i always bring it back to this, wouldn't we have heard about this now? >> well, the president wants to come on fox business and talk about this, he's going to, you know, i think he'll do an interview sometime in december. liz: good. >> he would say our distributers are also users. but there is some merit to it. the logic is this though, when the distributers dry out, what comes first, the distributers drying out and the pyramid imploding if it's a pyramid scheme, or they keep getting distributers for the next five years or three years, stock keeps going up, they do a massive buyback, they do an lbo, and there's -- the near term likelihood is going long, not short. that's the way i look at it. you know, make up your own mind. you kind of weigh the odds here. liz: cookies and cream.
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i like that flavor. >> you know, and i wasn't a big fan of the shakes, you know? i make my own shakes. kale, bananas, strawberries, blueberries, protein, orange juice. liz: you've got to hear jim gaffigan on kale. he's not a fan. [laughter] from the ceo of one of the best car manufacturers in the world to the best financial advice out there for ceos and board members and you, countdown to the closing bell had you covered this week. here's what's worth repeating. ♪ ♪ >> the whole issue really now, i think, is embracing it, and clients are loving it. a wig piece also is -- big piece also is technology. it's understanding what you want. you're seeing different sales than i'mmseeing. >> it feels a lot like 1995, you know, where you came out of the savings and loan crisis, people are looking over their shoulder. the market had a nice rally, and then commodity prices came down,
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inflation came down, and you had a rally there 1995 to the end of, you know, beginning of 2000. >> one of the keys to good decision making is actually to take your time. be thoughtful, work your way through it, number one. number two, my personal view is that rates will stay down here for a while to come. >> we made china a separate division because we have 1.3 billion people in china, and we have huge unit opportunities. so we have a separate division in china because we think those two markets, china and india with, are major opportunities. >> it's the same strategy that ford implemented in the united states during the worst of times because we wanted to make sure that we invested in the product, and then it'd be available on the economic recovery. so we are going to introduce over 25 new vehicles in europe over this next couple of years led by the mustang itself. liz: i love it. will it ever be electric? >> it could be someday.
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i think over time if the battery can get smaller and more cost effective, we'll see electric vehicles in all the different vehicles. liz: and, no, he says he's not going to microsoft. at least not for now. closing well ringing in 28 -- bell ringing in 28 minutes. the federal reserve taking cues from the labor department because that unemployment rate influences monetary policy. but how closely does the labor department watch the fed? we ask secretary thomas perez of the u.s. labor department department that very question next. and the markets close at 4 p.m. eastern, of course, but i'm always on call for you. head to foxbusiness.com/on call. sign up for claman on call, and i'll give you the top headlines of the day in case you missed it. we had the biggest interviews and what you need to be watching, the most important 90 seconds of financial news after hours delivered right to your smartphone. ♪ ♪
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liz: i would love to say it is about a jobs report today but did:prices felbitcoin prices fe. they did. and employment fell 0.3%, the lowest level in five years. the one thing that weighs on the labour parade is controls about the quality of those jobs. i sat down with labor secretary thomas perez to get his views on that and more.
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>> the report from november shows broad based job growth. for nstance manufacturing 27,000 jobs, look at the trajectory of manufacturing since february of 2010 we have gained 500,000 jobs, more than any period since the 90s. construction had a good month as well. that is a very important bellwether to watch. what is good about this report is you have a broad base of growth and now 45 consecutive months of private sector job growth over 8.1 million jobs created, we have a lot more work to do. no doubt about it. there is equally no doubt that the economy is steadily moving in the right direction. liz: i was talking to some traders because we are a business schedule so we want to know what they think of this. several traders say this is a very good number. it is hard to find bad things in
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it but it is our job to look at where we can see improvement. long-term unemployed numbers. can we address that because there are a lot of people who have been waiting for jobs but can't find quality jobs. >> i am really appreciative that you brought up the long-term unemployed because the fact of the matter is long term unemployment rate is unacceptably high and it remains that way. all of the job growth we saw in the past month were people who had been employed over a short-term period of time. that is an important data point to understand and it is important because at the end of the month unless congress acts to extend emergency unemployment insurance benefits, we will see on december 28,.3 million americans get a lump of coal in their stockings and congress has not long and proud by partisan
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history of extending unemployment benefits and it would be quite literally unprecedented when you have long-term unemployment at this level. liz: there is a longer-term issue, a jobs bill. we haven't seen one. is the president going to make this a priority at the level he made health-care or immigration and if so, when? >> the answer to the question of when is for the last two years the president has put on the table of very aggressive jobs bill that would invest in our infrastructure, roads and bridges, a human capital to make sure people have skills they need to succeed, immigration reform is a job creator passing immigration reform. amazing to me how much better we could be doing if we could make sure we provide certainty in washington rather than manufactured crises. liz: the federal reserve watch
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you guys, they watch this number and tied it when they might taper or hike interest rates to the unemployment rates which thankfully people would say happily enough kicked down 0.3% to 7.zero. their level is 6.5. one might argue we are not exactly within spitting distance but close enough. how closely do you watch what the fed is doing? they are watching what the labor department and these numbers do. >> we watch with great interest but also respect the independence of the fed and they will make whatever decisions they make along the time lines that they make them. our focus is what you just outlined creating jobs, creating ladders of opportunity in the middle class, making sure we address these immediate needs of long-term unemployed. making sure we address, wages are moving up. since 1979, 94% in this country but wages of gone up 3.1%.
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that isn't fair. that is why the president supports increasing the minimum wage and other measures that will help people in sure anyone working a full-time job can get a decent wage and not have to live in poverty. liz: small businesses need to hire people, at what level will hike minimum-wage become too onerous for them? >> i spent some time in louisville, ky with a group of small-business owners addressing this question, what they tell me is my most important resource is my human capital and when i pay people a fair wage, i can retain people better and that is critical. i heard that from employers across the country, small, medium, large size. that is really about fundamental fairness.
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liz: costco feels that way. they are fine with a raised minimum-wage but there are other companies particularly the small ones would hurt their costs. labor secretary thomas perez speaking from washington d.c.. closing bell ringing in 17 minutes. markets finally sheared good news. a great rally we are seeing today but wait, next we talked to many manager who is warning investors not to get over exuberant. he has five stock picks for you and the tesla models, electrified the auto industry. could it give the bitcoin business the charge as well? we will tell you what could be a first for the auto industry and bitcoin the virtual currency. every day we're working to be an even better company -
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liz: we want to give you the right angles, stalking with some stocks here, perfect guest to do this with after the markets are breaking a five day losing streak posting one of the strongest days in weeks after it today's solid jobs numbers. it seems paper worry on behalf of the fed is thrown out with a dirty bath water. how do you envision that? are investors getting ahead of themselves? where should you be putting money? michael church comment addison capitol's chief investment officer is on set with us and you have interesting stuff plus your best and worst plays of 2013. they are very interesting but what do you make of the jobs number and reaction to it? >> hard to quibble it was a good number. liz: is market reaction interesting? >> i don't think it should be
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surprising, things that are concerning. he mentioned them earlier with secretary perez. participation rates, things the fed is still watching. janet yellen may have a different viewpoint than ben bernanke. liz: people like kicking themselves for having sat on the sidelines for the past year or the past six months or the past three months. do they have time to get in or is it a mistake? >> there is time to get in. i don't think this run is complete. we had a great run, a correction could be around a corner, predicting that is a full -- liz: you don't see a game for the s&p. >> i think it would be wildly optimistic but to expect double-digit gains next year is not unreasonable which is a great return for equity markets. there is opportunity out there.
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liz: let's name them because you have a bunch here and i find it interesting to see which means you are picking at the moment. your first one was picked earlier this week. had been picked in a long time by any of our guests and that is national oil. >> we like the energy service sector. and o p has the best positioning in this space. they have a tremendous backlog. they are spinning out their transport business. there are a lot of catalysts for this stock and significant upside for $100 a share. liz: it is 19% to the upside but that is not so stunning that you worry is a pop. there is the chart. looks nice. we will flip over to a company that recently went public. >> this is an interesting one. of peter lynch moment for us here. this is pfizer's animal health unit.
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when you think about animal pharmaceuticals there are a couple things that are interesting for this company and one is no insurance companies, no third party payers. they do not have to deal with that. there is no generic competition to speak of but the reality is this is a very defensive business and a growing business much as a lot of other pharmaceutical companies are. people care for their pets like they are members of the family and they will spend on them and we believe this is a growth stock and we think we can do well with it. liz: in good times and bad. or call up 175% over the past year yet use still believe that this one has some glucose left in its blood. >> oracle is incredibly cheap. if you take a look at the valuations this is a stock that has -- liz: up tea of about 11. >> cash flows are enormous, balance sheet is foreseen as tremendous amounts of cash. you will see a significant push
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of return of capital to shareholders in coming years and it is still growing. this is a stock that trades with the multiple for a company that is not going on and that is not the case. they will have some success in the cloud and it will be a big catalyst. liz: a little bit of a dividend, 1.9% but what gets you excited about this? >> this is a utility stock but unlike your average utility don't produce electricity. they are a transmission operator. you hear a lot about the aging infrastructure of the electric grid in this country. itc is ground zero for all the upgrades to our electric network and expanding the electric grid in this country. as a result they are allowed to earn higher r o es than most utilities would ever dream of. it is a truly defensive company with great earnings potential. it sold off recently on concerns that they may lower the r o es. we think it is nonsense.
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i don't think they will lower them. liz: we don't hear much about american mobile, ticker symbol a m x. >> this is sort of -- the at&t of latin america. they have assets around world but primarily mexico and latin america. this is a company that has done very poorly year to date. the new addition to the portfolio very recently. very few companies are down year to date or flat year to date. liz: could be unloved but possibly soon to be loved. i have to ask in the last couple weeks we are asking all of our guests their best and worst pick for 2013. start with your best. >> our best was the tight race between a leadera and --allere was the best, the number one --
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liz: should have listened. >> close to 100% over the last 12 months. this is a great company. we like is for the long haul. liz: and your worst. >> wasn't the new addition to the portfolio but we held the too long which i suppose is just as bad. we have sold some couple years ago but it was buried gold. we are hurt pretty badly if there. liz: a tough time. >> and all year for the mining sector. liz: a good year for you. thank you very much. you are always welcome here. one of our originals at fox business. imagine buying a a car with something you can't see or touch or put in a bank account at this point. sounds like something out of star trek and it really is little lamborghini dealership in newport beach recently sold a tesla models sedan to a customer in exchange for bitcoin. reports say the customer, we don't know who is paid 91.4
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bitcoins for the electric car, translates into $90,000. that is the ballpark price for a performance version of the model-s which can cost one hundred thousand dollars. all of the available options are included. the lamborghini day the ship saying it is, quote, will be capable like setting bitcoin as payment for all its vehicles, a first, very interesting. we wanted to bring that the. closing bell in five minutes. stocks are driving higher offer of the jobs report. we will take you to close next. stay tuned. he's a question for : where does the united states get most of its energy? is it africa? the middle east? canada? or the u.s.? the answer is... the u.s. ♪ most of america's energy comes from right here at home. take the energy quiz.
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energy lives here.
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became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. liz: all 10 s&p sectors moving higher all day and right now. david asman joins me for "after the bell." david: what a exciting day for the market. what a day to end the week. a lot of it depending on the
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jobs market assuming people know a little better when the fed might taper. let's go to nicole petallides at the new york stock exchange. if you look at any read on the market, look at the vix. that will tell you all you need to know. it is back at 13. >> today was unbelievable day on wall street. got a jobs report better than expected. vix hovering near six-week highs pulled back down today 8%. it showed you there was buying across the board in just about every sector. liz: a lot of companies were moving higher on upgrades. say for example, intel and hewlett-packard. early on in the session they became lead technology stocks following a pair of upgrades. >> intel in particular getting an upgrade from citigroup was a real stellar one. that is very good. and other one was from edward jones for hewlett-packard. david: it is not all roses though. barnes & noble getting slammed today because of that sec investigation, down 11% right now. >> they're having to restate some numbers. they're working with the sec
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reportedly but that is not good news. [closing bell ringing] david: the good news this is one hell of a way to end the week. talk about going out with a bang. we're so close to the dow up 200. it is 199.27 right now. we may close upside on 200 mark on the dow. look at all indices doing well. the dow was the best performing index that we were looking at today. s&p a close second. nasdaq about half as much. and same with the russell 2000 small and mid-sized stocks. a terrific, terrific number on all based on that original number we got at 8:30 on unemployment. liz: it is part of our front page headlines. really a great day after the unemployment rate fell to a five-year. 7% is where the number stand right now. the labor department saying the economy created 203,000 jobs last month. that is well ahead of wall street forecast. david: there were upbeat news on consumer confidence today. the